Principal Financial Group Inc. Sells 254,130 Shares of Dropbox, Inc. (NASDAQ:DBX)

Principal Financial Group Inc. cut its position in Dropbox, Inc. (NASDAQ:DBX) by 31.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 552,047 shares of the company’s stock after selling 254,130 shares during the quarter. Principal Financial Group Inc. owned about 0.18% of Dropbox worth $14,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in Dropbox by 63.0% during the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after buying an additional 2,881,981 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Dropbox by 63.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock worth $56,994,000 after purchasing an additional 986,942 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after purchasing an additional 859,233 shares during the period. Distillate Capital Partners LLC acquired a new position in Dropbox in the second quarter valued at about $14,291,000. Finally, Renaissance Technologies LLC lifted its position in Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after purchasing an additional 506,200 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Stock Down 0.7 %

DBX stock opened at $30.52 on Friday. The company’s 50-day moving average price is $28.10 and its two-hundred day moving average price is $25.17. The firm has a market cap of $9.45 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.68 and a beta of 0.63. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

Insider Activity at Dropbox

In other news, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 351,306 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total value of $8,824,806.72. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $207,658,649.92. The trade was a 4.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 630,635 shares of company stock valued at $16,927,677 over the last three months. 26.40% of the stock is owned by insiders.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.